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Emmis Communications announced that its net income rose from $6.2 million a year ago to $110 million thanks to the sale of two of its television stations and one radio station, all of which closed during the quarter (Q2 of the company’s fiscal year 2007).
The jump in profits managed to offset a 6 percent decline in radio revenue, caused by weakness in the company’s New York and Los Angeles markets, according to Radio Ink.
Emmis chairman and CEO Jeff Smulyan has said that, as with the company’s competitors, “We continue to face challenges in our largest radio markets.”
Emmis has now sold 14 of its 16 television stations.
Katz Radio Group has snared two more major clients, having approached and signed CBS Radio and Entercom Communications, formerly clients of Interep.
CBS Radio represented about a third of Interep’s total revenue, writes Mediaweek.
Interep filed last month to convert its…
CNN plans to offer newspapers a wire service as an alternative to the Associated Press. CNN, which already runs an internal wire service, will explain its new, expanded service to editors from about 30 papers who are visiting Atlanta this…
Out-of-home companies are bracing for the recession like everyone else, but they may not feel the sting as badly as other media.
Though the third quarter brought negative growth to the nation’s three largest OOH companies - Clear Channel Outdoor,…
Email, news gathering and paying bills continue to be the most widely used online activities among U.S. adults, but downloading TV programs, watching videos and making web phone calls posted the biggest overall growth, according to data from Mediamark Research…
Regulatory filings reveal that billionaire hedge-fund manager Carl Icahn bought nearly 7 million additional shares — about $67 million worth — of Yahoo.
The investor paid an average of $9.92 for each share over the course of three days, bringing…
Despite the U.S. financial crisis and dwindling marketing budgets at some financial institutions, the number of retention-related direct-mail offers sent by banks to current customers in Q3 2008 was 42% higher than in Q2.
View chart of estimated mail volume, Q3…
